When it comes time to get a new, or new to you, vehicle, there are a number of different ownership options. For consumers who don’t want to deal with the massive depreciation hit that comes along with buying a new car, leasing or buying a pre-owned vehicle are the most popular remaining options. There are a number of things that need to be taken into consideration when making this important decision. Should you lease or buy a used Chevy in Chicago? Here are just a few things to keep in mind when contemplating this complicated question.
What Is the Car’s Primary Purpose?
In many professions, having a stunning vehicle carries a lot of weight, and not all consumers in entry level positions can afford to show up to meetings or golf games with a brand new luxury vehicle. In those cases, leasing is probably an ideal solution. You will have the benefit of a new car without the massive price tag, and you’ll be able to upgrade every few years without going through the hassle of selling your existing car. However, if you do a lot of travelling and plan on putting a number of miles on your car, buying a used car may be the way to go. Most leases will have caps on the number of miles you can put on the car per year, and may have huge penalties for those who go over.
Are You Hoping For Something With Resale Value?
Leasing basically means you are borrowing the car for a specified term, and paying a monthly fee for the privilege of driving it. Buying a used vehicle means that once the financing terms are up, the car is yours, indefinitely, to do with as you please. If you are hoping to have something you can sell in order to eventually purchase the car of your dreams, purchasing a used car is the right way to go.
For more information about leasing or buying a used Chevy in Chicago contact Hawk Chevrolet Cadillac of Joliet at website.
